Can I retire at age 56 with 873,000?

Use the below retirement simulation to view the chances of a successful retirement.
About Your Retirement ?
Current Age
Retirement Age
Current Savings $
Annual Deposits $
Annual Withdrawals $
Stock market crash:
Portfolio ?
% in Stocks:
% in Bonds:
% in Cash:
Modify Stock Returns:
0%
Modify Bond Returns:
0%
Modify Cash Returns:
0%
Modify Inflation:
0%
How much money do I need to retire?

This retirement calculator runs simulations based on past data from the S&P 500, 10 Year Treasury Bond, 3 month T-Bill, and US inflation. For each year of each simulation, a random return and inflation amount is chosen.

How to use: Enter your current age and the age when you retire. Then enter your current savings, the amount that you can save annually before you retire, and the amount that you plan to withdraw after retirement. Your annual deposits and withdrawals take inflation into account. For example, if you need $50,000 to live on in retirement using today's dollars, we will automatically take into account the cost of living for your retirement years. The same is true for your annual deposits. Next, decide if you'd like to simulate a stock market crash.

In the portfolio section, choose the makeup of your portfolio with stocks, bonds, and cash. Cash assumes that your money is stored in a savings account. You can then alter the future returns and inflation. For example, if the market has historically returned about 10%, but you think the future will be worse, modify the stock returns by -3%, and the future returns will average out to 7%. Investment fees can also lower stock market returns. Many index funds and ETFs offer extremely low fees and expenses.

Many people receive income in retirement, such as social security, pension plans, part time jobs, annuities, and other benefits. This would allow you to take out smaller distributions every year. Please note that taxes must also be considered, but are not used in this simulation. A 401k, Roth IRA, and Traditional IRA are taxed differently than a standard investment account, as are dividends.

Note: This assumes that the future is at least somewhat like the past. In reality, anything could happen. The Soviet Union collapsed, Japan's Nikkei Index is still well below its 1989 peak. Numerous other markets have changed drastically and never recovered. However, this online tool is helpful in retirement planning and estimating how much you might need for retirement, especially those hoping to retire early. We recommend receiving advice from a financial planner.

Want to retire with $873,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%15%
1 years$72,092$71,449$70,823$70,211$69,614$68,181
2 years$35,689$35,024$34,380$33,755$33,150$31,712
3 years$23,556$22,889$22,246$21,627$21,031$19,635
4 years$17,491$16,826$16,190$15,581$15,000$13,654
5 years$13,853$13,191$12,564$11,968$11,403$10,112
6 years$11,428$10,772$10,153$9,571$9,023$7,789
7 years$9,697$9,046$8,437$7,869$7,338$6,161
8 years$8,399$7,754$7,156$6,601$6,087$4,967
9 years$7,390$6,751$6,163$5,623$5,126$4,062
10 years$6,584$5,951$5,373$4,847$4,368$3,358
11 years$5,924$5,298$4,730$4,218$3,757$2,800
12 years$5,375$4,755$4,198$3,700$3,255$2,351
13 years$4,911$4,297$3,751$3,266$2,839$1,985
14 years$4,513$3,906$3,370$2,900$2,488$1,683
15 years$4,169$3,568$3,043$2,586$2,191$1,433
16 years$3,868$3,274$2,759$2,315$1,936$1,224
17 years$3,602$3,015$2,510$2,080$1,717$1,048
18 years$3,367$2,786$2,292$1,875$1,527$899
19 years$3,156$2,582$2,098$1,694$1,361$773
20 years$2,967$2,399$1,925$1,534$1,215$666
21 years$2,796$2,235$1,771$1,392$1,088$574
22 years$2,641$2,086$1,632$1,266$975$495
23 years$2,499$1,951$1,507$1,153$875$428
24 years$2,370$1,828$1,394$1,052$787$370
25 years$2,251$1,716$1,291$960$708$320
26 years$2,141$1,612$1,197$878$638$277
27 years$2,040$1,517$1,112$804$575$240
28 years$1,946$1,430$1,033$736$519$208
29 years$1,858$1,349$962$675$468$181
30 years$1,777$1,274$896$620$423$157
31 years$1,701$1,204$835$569$383$136
32 years$1,630$1,140$779$523$346$118
33 years$1,563$1,079$728$481$313$103
34 years$1,501$1,023$680$443$284$89
35 years$1,442$970$636$407$257$77
36 years$1,387$921$595$375$233$67
37 years$1,334$875$556$346$211$58
38 years$1,285$831$521$319$191$51
39 years$1,238$790$488$294$173$44
40 years$1,194$752$458$271$157$38
41 years$1,151$716$429$250$143$33
42 years$1,111$682$403$231$129$29
43 years$1,073$649$378$213$118$25
44 years$1,037$619$355$197$107$22
45 years$1,003$590$333$182$97$19
46 years$970$563$313$168$88$17
47 years$938$537$294$155$80$14
48 years$908$513$276$143$73$12
49 years$880$490$259$132$66$11
50 years$852$468$244$122$60$9

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 56 starting with $873,000, adding $6,124 every year, while hoping to spend $46,074 every year in retirement. These numbers increase with inflation.
Reality usually performs much different than the expected returns. This uses historical averages, but anything can happen. In general, riskier investments have greater returns on average, but more volatility in the short term.
Age Total: 100% Stocks Total: 100% Bonds Total: 100% Cash Total: 73/22/5 Blend
55$873,000$873,000$873,000$873,000
56$968,363$922,094$908,562$1,038,211
57$1,018,114$918,254$889,977$1,081,197
58$1,071,395$912,682$869,225$1,121,835
59$1,128,517$905,244$846,184$1,165,019
60$1,189,824$895,798$820,729$1,210,985
61$1,255,688$884,195$792,726$1,259,993
62$1,326,523$870,276$762,037$1,312,331
63$1,402,780$853,870$728,517$1,368,315
64$1,484,955$834,801$692,013$1,428,296
65$1,573,593$812,879$652,368$1,492,661
66$1,669,293$787,904$609,416$1,561,836
67$1,772,713$759,664$562,984$1,636,294
68$1,884,577$727,934$512,891$1,716,556
69$2,005,678$692,477$458,947$1,803,196
70$2,136,891$653,043$400,956$1,896,849
71$2,279,177$609,365$338,711$1,998,216
72$2,433,593$561,163$271,997$2,108,073
73$2,601,299$508,140$200,589$2,227,274
74$2,783,576$449,983$124,253$2,356,762
75$2,981,828$386,360$42,743$2,497,581
76$3,197,604$316,920$0$2,650,880
77$3,432,605$241,295$0$2,820,291
78$3,688,704$159,092$0$3,007,444
79$3,967,964$69,900$0$3,211,618
80$4,272,653$0$0$3,434,538
81$4,605,270$0$0$3,684,577
82$4,968,562$0$0$3,976,195
83$5,365,558$0$0$4,294,907
84$5,799,588$0$0$4,643,390
85$6,274,322$0$0$5,024,597
86$6,793,798$0$0$5,441,776
87$7,362,466$0$0$5,898,503
88$7,985,222$0$0$6,398,720
89$8,667,460$0$0$6,946,764
90$9,415,120$0$0$7,547,412
91$10,234,745$0$0$8,205,927
92$11,133,539$0$0$8,928,104
93$12,119,438$0$0$9,720,326
94$13,201,182$0$0$10,589,624
95$14,388,399$0$0$11,543,741
96$15,691,694$0$0$12,591,209
97$17,122,749$0$0$13,741,423
98$18,694,432$0$0$15,004,736
99$20,420,920$0$0$16,392,549
100$22,317,829$0$0$17,917,426